Blend Labs (NYSE:BLND) Price Target Raised to $4.00

Blend Labs (NYSE:BLND) had its price objective lifted by UBS Group from $3.00 to $4.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Blend Labs from $3.00 to $3.25 and gave the company a “market perform” rating in a report on Monday, August 12th. William Blair raised shares of Blend Labs from a “market perform” rating to an “outperform” rating in a report on Friday, August 9th. The Goldman Sachs Group boosted their target price on shares of Blend Labs from $3.00 to $3.40 and gave the company a “buy” rating in a research note on Friday, August 9th. Canaccord Genuity Group upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and boosted their target price for the company from $3.00 to $4.75 in a research note on Monday, August 12th. Finally, Canaccord Genuity Group upgraded shares of Blend Labs from a “hold” rating to a “buy” rating and boosted their target price for the company from $3.00 to $4.75 in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.94.

Blend Labs Price Performance

Shares of Blend Labs stock opened at $3.35 on Wednesday. The firm has a market capitalization of $845.47 million, a PE ratio of -5.78 and a beta of 1.15. The company’s fifty day moving average price is $3.67 and its two-hundred day moving average price is $3.06. Blend Labs has a 52-week low of $1.15 and a 52-week high of $4.25.

Blend Labs (NYSE:BLND) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. The business had revenue of $40.48 million during the quarter, compared to the consensus estimate of $39.50 million. Analysts predict that Blend Labs will post -0.27 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Winnie Ling sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $3.33, for a total transaction of $66,600.00. Following the transaction, the insider now owns 286,416 shares in the company, valued at $953,765.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 54,303 shares of company stock worth $192,926. Corporate insiders own 11.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP acquired a new position in Blend Labs during the 2nd quarter worth about $31,000. Xponance Inc. acquired a new position in Blend Labs during the 2nd quarter worth about $35,000. Caxton Associates LP bought a new stake in Blend Labs during the 1st quarter worth about $60,000. Cannon Global Investment Management LLC bought a new stake in Blend Labs during the 1st quarter worth about $65,000. Finally, SG Americas Securities LLC bought a new stake in Blend Labs during the 1st quarter worth about $70,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Blend Labs Company Profile

Blend Labs, Inc engages in the provision of cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company's Blend Builder Platform offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts; and offers mortgage products to facilitate the homeownership journey for consumers comprising close, income verification for mortgage, homeowners' insurance, and realty.